JPMorgan Chase & Co. Acquires 3,244 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

JPMorgan Chase & Co. increased its stake in Semrush Holdings, Inc. (NASDAQ:SEMR) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 386,991 shares of the company’s stock after buying an additional 3,244 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.26% of Semrush worth $6,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SEMR. The Manufacturers Life Insurance Company grew its holdings in Semrush by 28.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after buying an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Semrush in the 2nd quarter worth about $123,000. DRW Securities LLC bought a new stake in Semrush in the 3rd quarter valued at about $157,000. Virtu Financial LLC acquired a new position in shares of Semrush during the 3rd quarter worth approximately $158,000. Finally, Olympiad Research LP bought a new position in shares of Semrush during the third quarter worth approximately $159,000. Institutional investors own 32.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEMR. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $20.00 in a research note on Monday. Northland Capmk raised Semrush to a “strong-buy” rating in a report on Tuesday. KeyCorp boosted their price target on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, Northland Securities began coverage on shares of Semrush in a research report on Tuesday. They issued an “outperform” rating and a $18.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Insider Buying and Selling at Semrush

In other Semrush news, Director Dmitry Melnikov sold 42,226 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $13.50, for a total value of $570,051.00. Following the completion of the transaction, the director now directly owns 9,099,091 shares in the company, valued at approximately $122,837,728.50. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Eugenie Levin sold 6,943 shares of Semrush stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $11.74, for a total value of $81,510.82. Following the sale, the president now directly owns 580,549 shares in the company, valued at $6,815,645.26. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,711 shares of company stock worth $3,332,605 over the last quarter. Corporate insiders own 57.83% of the company’s stock.

Semrush Trading Up 10.7 %

Shares of Semrush stock opened at $14.76 on Thursday. The firm’s 50 day moving average is $13.13 and its 200 day moving average is $13.57. The firm has a market capitalization of $2.17 billion, a PE ratio of 184.52 and a beta of 1.62. Semrush Holdings, Inc. has a 1 year low of $9.64 and a 1 year high of $16.42.

Semrush Company Profile

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.